Categories: CircuitsF1 News, Reports and Race Results

Lower tax bill for Austin revives US GP hopes

The Circuit of Americas (COTA) in Austin, Texas has seen its 2015 tax bill substantially reduced by the local government, saving the track millions and perhaps also its future as the continued venue for the US Grand Prix.

Washed out by appalling weather conditions last year which impacted its revenue, and facing a potential reduction in subsidies by the Texas government, the US Grand Prix has been earmarked as "subject to confirmation" by FOM on the 2016 calendar.

But Texas' decision to lower the value of the F1 racetrack for the past three fiscal years, entailing a lowered tax bill estimated at $13 million, bodes well for its definitive confirmation this year.

Formula 1 supremo Bernie Ecclestone recently expressed his optimism regarding COTA and its promoters.

"I think Austin will happen this year. (Race chief Bobby) Epstein is confident. He knows the money is coming," Ecclestone explained to Forbes.

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Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.